06.08.2020

A person places $37700 in an investment account earning an annual rate of 5%, compounded continuously. Using the formula V = Peșt, where Vis the value of the

account in t years, P is the principal initially invested, e is the base of a natural

logarithm, and r is the rate of interest, determine the amount of money, to the

nearest cent, in the account after 16 years.

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24.06.2023, solved by verified expert
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8,229,437 cents

Step-by-step explanation:

Using the compound interest formula;

A = P(1+r)^n

Given

Principal invested = $37700

rate r = 5% = 0.05

Time t = 16years

Substitute into the formula

A = 37700(1+0.05)^16

A  = 37700(1.05)^16

A = 37700(2.1829)

A = 82,294.37

Hence the amount of money, to the  nearest cent, in the account after 16 years is 8,229,437 cents

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Mathematics
Step-by-step answer
P Answered by PhD

8,229,437 cents

Step-by-step explanation:

Using the compound interest formula;

A = P(1+r)^n

Given

Principal invested = $37700

rate r = 5% = 0.05

Time t = 16years

Substitute into the formula

A = 37700(1+0.05)^16

A  = 37700(1.05)^16

A = 37700(2.1829)

A = 82,294.37

Hence the amount of money, to the  nearest cent, in the account after 16 years is 8,229,437 cents

Mathematics
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P Answered by PhD

The answer is in the image 

The answer is in the image 
Mathematics
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P Answered by PhD

Salesperson will make 6% of 1800

=(6/100)*1800

=108

Salesperson will make $108 in $1800 sales

Mathematics
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P Answered by PhD

Speed=Distance/time

Here,

distance=15m

time=1sec

speed=15/1=15m/sec

Distance=Speed*time

time=15min=15*60sec=900sec

Distance travelled in 15 min=15*900=13,500m

=13500/1000 km=13.5Km

Mathematics
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P Answered by PhD

The wood before starting =12 feet

Left wood=6 feet

Wood used till now=12-6=6 feet

Picture frame built till now= 6/(3/4)

=8 pieces

Therefore, till now 8 pieces have been made.

Mathematics
Step-by-step answer
P Answered by PhD

Salesperson will make 6% of 1800

=(6/100)*1800

=108

Salesperson will make $108 in $1800 sales

Mathematics
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P Answered by PhD

Let the father's age be x and son's be y

10 years before-

Father age=x-10

sons age=y-10

Given,

x-10=10(y-10)

x-10=10y-100

Given present age of father=40

therefore,

x=40

40-10=10y-100

10y-100=30

10y=130

y=130/10

y=13

Therefore present age of son=13years

Mathematics
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P Answered by PhD

Cost of 6 gallons =$15

Cost of 1 gallon =15/6

                           =$2.5

Cost of 7 gallons=$2.5 * 7

                           =$17.5

Mathematics
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P Answered by PhD

There are 6 outcomes 1,2,3,4,5,6

Total outcomes = 6

Outcomes when rolling a number is 4 or less = 1,2,3,4

Total outcome when rolling a number is 4 or less=4

Probability = required outcome/total outcome

                 =4/6

                 =2/3

Therefore probability = 2/3

Mathematics
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P Answered by PhD

(​1 or 7) ; number of possible outcome = 2

(a, e,​ i, o, or​ u) ; number of possible outcome = 5

So,

Number of possible outcomes = 2 x 5

Number of possible outcome =10

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